Brief by Shorts91 Newsdesk / 12:18pm on 07 Aug 2025,Thursday India Global
US President Donald Trump's sweeping new tariffs on imports from over 90 countries took effect Thursday, reshaping global trade. India faces a 50% tariff hike starting August 27, as Trump demands it stop buying Russian oil. He also threatened a 100% tariff on foreign-made semiconductors to boost domestic production. Nations like Laos, Myanmar, and Switzerland face some of the steepest levies. The European Union, Japan, and South Korea secured reduced rates through last-minute deals. Markets across Asia remained steady, but India and Australia saw declines. Delhi called the India-specific tariff "unfair" and vowed to defend its energy trade policy. (PC: BBC)
